Alamo Group Inc. (NYSE:ALG – Get Rating) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $128.44 and traded as high as $133.10. Alamo Group shares last traded at $129.44, with a volume of 43,212 shares changing hands.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on ALG. DA Davidson upped their price objective on shares of Alamo Group to $136.00 in a report on Tuesday, August 9th. TheStreet upgraded Alamo Group from a "c+" rating to a "b-" rating in a research report on Thursday, August 25th. Finally, StockNews.com upgraded Alamo Group from a "hold" rating to a "buy" rating in a research report on Friday, August 5th.
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Alamo Group Trading Down 3.5 %
The stock has a 50-day moving average of $128.32 and a 200 day moving average of $128.44. The stock has a market cap of $1.55 billion, a PE ratio of 18.41 and a beta of 0.97. The company has a quick ratio of 2.09, a current ratio of 3.95 and a debt-to-equity ratio of 0.48.
Alamo Group (NYSE:ALG – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.06 by $0.33. Alamo Group had a return on equity of 12.03% and a net
margin of 5.84%. During the same period last year, the firm posted $1.97 EPS. As a group, sell-side analysts anticipate that Alamo Group Inc. will post 8.61 earnings per share for the current year.
Alamo Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 18th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, July 15th. This represents a $0.72 annualized dividend and a yield of 0.56%. Alamo Group's dividend payout ratio is presently 10.24%.
Insiders Place Their Bets
In other Alamo Group news, EVP Richard Hodges Raborn sold 1,553 shares of the company's stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $136.55, for a total value of $212,062.15. Following the sale, the executive vice president now owns 8,710 shares in the company, valued at approximately $1,189,350.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.30% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Epoch Investment Partners Inc. lifted its holdings in Alamo Group by 24.9% in the 4th quarter. Epoch Investment Partners Inc. now owns 76,050 shares of the industrial products company's stock valued at $11,193,000 after purchasing an additional 15,162 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Alamo Group in the first quarter worth about $795,000. Pinebridge Investments L.P. acquired a new position in Alamo Group during the fourth quarter worth about $88,000. Autumn Glory Partners LLC acquired a new position in Alamo Group during the first quarter worth about $275,000. Finally, Teacher Retirement System of Texas boosted its position in Alamo Group by 6.6% during the first quarter. Teacher Retirement System of Texas now owns 2,109 shares of the industrial products company's stock worth $303,000 after acquiring an additional 130 shares during the last quarter. 92.79% of the stock is owned by institutional investors and hedge funds.
About Alamo Group
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Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.
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